Tenax Therapeutics effects 1-for-20 reverse stock split to meet Nasdaq minimum bid price

TENAX THERAPEUTICS, INC.

Reverse stock split at 1-for-20 ratio effective 5:00 p.m. ET on January 4, 2023.
Shares outstanding reduced from 45,836,215 to approximately 2,291,811; no fractional shares issued, rounded up.
Stock to trade split-adjusted on Nasdaq under symbol TENX starting January 5, 2023; new CUSIP 88032L506.
Reverse split was approved by shareholders on June 9, 2022; board set ratio on December 15, 2022.
Purpose is to regain compliance with Nasdaq's minimum $1.00 bid price requirement for continued listing.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

TENAX THERAPEUTICS, INC.: Certificate of Amendment filed to effect reverse stock split of common stock at 1-for-20 ratio (effective 2023-01-04).

Change: charter amendment
Effective: 2023-01-04

Exact text from the filing

Tenax Therapeutics, Inc. (the “Company”) filed a Certificate of Amendment to the Company’s Certificate of Incorporation, as amended (the “Certificate of Amendment”) with the Secretary of State of Delaware for the purpose of effecting a reverse stock split (the “Reverse Stock Split”) of the outstanding shares of the Company’s common stock at a ratio of one share for every 20 shares outstanding

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Source: SEC EDGAR

accession 0001654954-23-000110

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